Great investment property in Hale Center, Texas! The property has almost 15,000 square feet of space that had approximately $300,000 of improvements in 2016 and then another $130,000 in the last year. It currently houses a boys foster care facility with 22 rooms, nice kitchen, dining room, recreation room, basement, several other rooms that are used for offices, break rooms, storage, etc. It spans the entire city block and also includes the old Hale Center Hospital. The current tenants have a triple net lease through July 2024 and would like to keep the lease in place. This property carries an 8% net cap rate! Put your money to work and don't miss this great opportunity!!
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to change, withdrawal, or prior sale. Steadfast Realty Agent shall not be responsible or liable for typographical errors, misprints, or misinformation contained in data provided by the Lubbock Association of REALTORS®. Square footage on any portion of this web site may be an estimate and should be independently verified. Property data is courtesy of the Lubbock Realtors Association multiple listing service. Updated: 8th June, 2023 3:40 AM (UTC)
Listing Agent: Kimberlyn Street
Listing Office: Street Real Estate